Are Meme Coins Staging a Comeback? PEPE, DOGE, SHIB on the Rise

• PEPE added a 3.48% gain after surging in the early trading hours of Monday, according to data from CoinMarketCap.
• The token’s trade volume also rocketed after registering a 73.72% increase from $62 million trades.
• DOGE and SHIB recorded similar price gains, although trade volumes lagged behind PEPE’s.

Amidst a recent surge in major cryptocurrency prices, the popular meme coin token PEPE also recorded a significant uptick, wiping off some of the losses it accumulated over the week. With the token still in the green zone, many wonder if it will sustain that performance until year-end.

Particularly, data from CoinMarketCap shows that PEPE has added a 3.48% gain in its price at the time of press. The uptick came from a broader crypto market overnight rally, ending last week’s sustained negative price performance.

However, on the weekly price charts, the token is still in the red zone, with a 1.58% decline in that period. On the other hand, the monthly price charts show the token has equaled its losses and is trending positive. Should PEPE sustain the current rally, it might cancel losses gathered over the last week.

Furthermore, PEPE also registered a significant increase in its trade volume. As of writing, the meme coin’s trade volume is up 73.72% after recording over $62 million in trades. The token has an overall market cap of $268.41, making it the third-largest meme coin network in the world, behind DOGE and SHIB.

Meanwhile, top meme coins, like DOGE and SHIB, also picked up pace in the past 24 hours, although less than what PEPE recorded. Data shows DOGE saw a 1.02% increase in the past 24 hours after picking up in the early hours of Monday. Its trade volume spiked by 10.83% after more than $130 million inflows.

Second-ranked meme network Shiba Inu recorded a gain of 1.21% in the past 24 hours and a trade volume of $94.6 million in the same period. However, DOGE and SHIB have not risen above the losses accumulated from the previous week.